Beta Group
- Assets
- $25.4k
- Revenue
- $508.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Minneapolis, MN
- Founding
- 05/2016
- Data as of
- 12/2022
- EIN
- 81-2227583
Organization Overview
Beta Group is located in Minneapolis, MN. The organization was established in 2016. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Beta Group employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beta Group is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Beta Group generated $508.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $902.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE THE SUCCESS OF FOUNDERS OF MINNESOTA-BASED TECHNOLOGY STARTUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN CITIES STARTUP WEEK IS A WEEK LONG CONFERENCE ENTAILING MANY DIFFERENT STARTUP EDUCATION EVENTS. THE CONFERENCE ATTRACTS 1200 ATTENDEES AND OFFERS 180 SESSIONS IN 25 LOCATIONS AROUND THE TWIN CITIES. THE TWIN CITIES STARTUP WEEK IS A COMMUNITY RUN EVENT THAT OFFERS PROMOTION, EXPOSURE, AND LEARNING FOR ALL BUSINESS OWNERS WHO ATTEND.
THE BETA COHORT IS A FREE NON-DILUTIVE ACCELERATOR PROGRAM THAT PUTS FOUNDERS FRONT AND CENTER TO MINNESOTA'S TECHNOLOGY AND INNOVATION COMMUNITY. TOGETHER, FOUNDING TEAMS LEARN, WORK, AND GROW OUR STATE'S NEXT GREAT BUSINESSES. THERE ARE TWENTY COMPANIES THAT ARE PART OF THE COHORT WHICH MEET OVER FOUR MONTHS. COHORT FOUNDERS GAIN VALUABLE INSIGHT ON HOW TO GROW AND SCALE THEIR COMPANIES WHILE BETA'S COMMUNITY PROVIDES ACCESS TO THEIR RESOURCES AND RELATIONSHIPS REQUIRED TO ACHIEVE MAJOR MILESTONES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Schultze Executive Director | OfficerTrustee | 40 | $46,519 |
Allison Barmann Board Chair | OfficerTrustee | 2 | $0 |
Reed Robinson Secretary | OfficerTrustee | 2 | $0 |
Clarence Bethea Director | Trustee | 2 | $0 |
Ryan Broshar Director | OfficerTrustee | 2 | $0 |
Shonnah Hughes Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $462,937 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $462,937 |
| Total Program Service Revenue | $45,499 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $508,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $267,773 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,333 |
| Payroll taxes | $16,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $200,880 |
| Advertising and promotion | $47,826 |
| Office expenses | $14,290 |
| Information technology | $24,812 |
| Royalties | $0 |
| Occupancy | $11,714 |
| Travel | $1,255 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,122 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,645 |
| All other expenses | $282,885 |
| Total functional expenses | $902,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,184 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,250 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,434 |
| Accounts payable and accrued expenses | $195,637 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $195,637 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | -$170,203 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,434 |